Sun.Jan 22, 2023

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Amendments to Rule 10b5-1’s Defense to Insider Trading Liability & Related Disclosures

Harvard Corporate Governance

Posted by Laura D. Richman, John R. Ablan, and Kwaku D. Osebreh, Mayer Brown LLP, on Sunday, January 22, 2023 Editor's Note: Laura D. Richman is a Counsel, John R. Ablan is a Partner, and Kwaku D. Osebreh is an Associate at Mayer Brown LLP. This post is based on their Mayer Brown memorandum. Related research from the Program on Corporate Governance includes Insider Trading via the Corporation (discussed on the Forum here ) by Jesse M. Fried.

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Elliott takes multibillion-dollar activist stake in Salesforce

Financial Times M&A

Pressure mounts on Marc Benioff’s software group after Starboard Value fund calls to boost profit margins

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China Pumps Up The ‘Panda Bond’ Market

Global Finance

With interest rates rising in the West, China hopes its falling interest rates will attract multinationals to its domestic bond market

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Sporting goods 2023: The need for resilience in a world in disarray

McKinsey Public & Social Sector Insights

After recording a widely positive performance in 2021, the sporting-goods industry has seen multiple challenges in the past year, including the threat of global recession, war in Europe, continued supply chain challenges, and rapidly rising interest rates—all contributing to a world in disarray.

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Rethinking Growth: The Fight to Become and Stay Profitable

Speaker: Aleksey Krylov, CFA - Chief Financial Officer at CytoImmune Therapeutics

Join Aleksey Krylov, corporate finance expert and CFO at CytoImmune Therapeutics, for an insightful overview of working capital management and managing profitability.

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Funeral Biz's £281M Takeover Deal Guided By 2 Law Firms

Law 360 M&A

Dignity PLC said on Monday that it has accepted a £281 million ($347.3 million) takeover cash offer from a consortium of the funeral provider's existing shareholders in a deal led by Slaughter and May and Macfarlanes LLP

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Proactive news headlines including Lightning Minerals, Kingfisher Mining, New Century Resources and Critical Resources

Benzinga

Sydney, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Proactive, provider of real-time news and video interviews on growth companies listed in Australia, has covered the following companies: Lightning Minerals Ltd (ASX:L1M) has identified a lithium-rubidium anomaly from a soil sampling program at the Dundas Project in Western Australia.

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Top News: Atmospheric Water Generators Market to Hit $6,214.9 Bn by 2027 | Fortune Business Insights™

Benzinga

Pune, India, Jan. 23, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™ , The global atmospheric water generators market is expected to touch USD 6,214.9 million by 2027 on account of the rising demand for potable water and the decline in the availability of freshwater.

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A Trustee’s Rejection of a Contract does not Necessarily Suspend the Non-Debtor Counterparties’ Contractual Obligations

ABI

Cav Meininger St. John's University School of Law American Bankruptcy Institute Law Review Staff In Music Royalty Consulting Inc. Reservoir Media Management, Inc. , the Southern District of New York addressed the implications of the rejection of a contract on a dispute between two non-debtor publishing entities, Music Royalty Consulting, Inc. MRCI”) and Reservoir Media Management, Inc. Reservoir”). [1]

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Top News: Methanol Market to Hit $39.18 Billion by 2028 | Fortune Business Insights™

Benzinga

Pune, India, Jan. 23, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™, the global methanol market size is set to gain traction from the urgent need to lower environmental pollution caused by the surging usage of heavy fuels, such as diesel and gasoline. Methanol is found in petroleum refineries and refined from crude oil through fractional distillation. Pollution further leads to global warming and climate change.

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A Decedent’s Estate is not Eligible to be a Debtor Under the Bankruptcy Code

ABI

Howard Poon St. John's University School of Law American Bankruptcy Institute Law Review Staff Under section 109 of title 11 of the United States Code (the “Bankruptcy Code”), “only a person” may be a debtor. [1] 1] A person is a party that has a “domicile, a place of business, or property in the United States.” [2] 2] In In re Estate of Taplin , the bankruptcy court in the Eastern District of California held that a decedent’s estate may not be a debtor under Bankruptcy Code. [3]

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Aluminium Market to Hit USD 255.91 Billion by 2029 | Fortune Business Insights™

Benzinga

Pune, India, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The global aluminium market size was valued at USD 159.32 billion in 2021 and is projected to reach a valuation of USD 168.84 billion in 2022. The market is expected to reach USD 255.91 billion by 2029 with a CAGR of 6.1% during the forecast period 2022-2029. Rising product incorporation in the automotive & transportation industry is expected to increase market growth.

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Court Terminates Automatic Stay to Allow Foreclosure of Single Asset Real Estate

ABI

Zachary Rozycki St. John's University School of Law American Bankruptcy Institute Law Review Staff Under section 362 of title 11 of the United States Code (the “Bankruptcy Code”), the filing of a bankruptcy petition results in an automatic stay that generally enjoins any creditor from taking any action against a debtor or its property. [1] 1] The automatic stay is not permanent and may be terminated upon a showing of “cause.” [2]

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Sorbitol Market to Reach USD 1,928.3 Million by 2026 | Exhibiting a CAGR of 5.54%

Benzinga

Pune, India, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The global sorbitol market is likely to gain impetus from a rise in demand for digestive and low-calorie products. The global sorbitol industry was valued at USD 1,244.5 Million in 2018. It is projected to reach USD 1,928.3 Million by the end of 2026, exhibiting a CAGR of 5.54% in the forecast period (2019-2026).

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US Trustee Fee Increase that is not Applicable Uniformly Violates the US Constitution

ABI

Malorie Ruggeri St. John's University School of Law American Bankruptcy Institute Law Review Staff Article I, Section 8, Clause 4, of the United States Constitution contains the “Bankruptcy Clause,” which vests Congress with the power to establish “uniform Laws on the subject of Bankruptcies throughout the United States.” [1] 1] The Clause’s requirement that the bankruptcy laws be “uniform” is not a strictly construed requirement. [2]

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Rethinking Cautions Accompanying Investment Predictions

Reynolds Holding

We are constantly bombarded with warnings about dangers to our health or wellbeing. Sometimes, however, the warnings might facilitate the danger. In a new article, I show how the cautionary statements that commonly accompany predictions of corporate performance fall into this camp.

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Strict Compliance with Screening Procedures will Prevent an Attorney’s Conflict from Imputing to the Entire Firm

ABI

Salvatore A. Salerno St. John's University School of Law American Bankruptcy Institute Law Review Staff In In re Maxus Energy Corporation , the United States Court of Appeals for the Third Circuit affirmed a bankruptcy court’s order denying a motion to disqualify a law firm because of an individual attorney’s conflict. [1]

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Sullivan & Cromwell Discusses ESG Considerations for Financial Institutions in 2023

Reynolds Holding

As U.S. financial institutions assess their ESG risks, opportunities, policies and procedures for 2023, key considerations include the numerous significant ESG developments in 2022—in particular, recent proposals and initiatives announced by financial regulators with respect to climate-related risk management and disclosures—and overarching regulatory, political, investor and litigation trends. This memorandum summarizes several ESG considerations that are expected to be particularly relevant.

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Debts Based on Fraudulent Misrepresentations of Fact may not be Discharged

ABI

Lauren M. Shoemaker St. John's University School of Law American Bankruptcy Institute Law Review Staff Under title 11 of the United States Code (the “Bankruptcy Code”), a debtor may be discharged of his or her debts. [1] 1] However, certain debts are not dischargeable. [2] 2] In particular, a debt obtained by false representation or false written statements cannot be discharged. [3] 3] In In re Swing House Rehearsal and Recording, Inc. ,

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Non-Income Producing Properties that Never Operated can be Single Asset Real Estate Under the Bankruptcy Code

ABI

Paul Spagnoli St. John's University School of Law American Bankruptcy Institute Law Review Staff Title 11 of the United States Code (the “Bankruptcy Code”) contains certain provisions addressing “single asset real estate” or “SARE.” [i]

Banking 40
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Foreclosure Sale Violates Automatic Stay when a Debtor is a Named Party in the Foreclosure

ABI

Andrew Vavricka St. John's University School of Law American Bankruptcy Institute Law Review Staff Section 362 of title 11 of the United States Code (the “Bankruptcy Code”) provides that the filing of a bankruptcy petition results in an automatic stay generally enjoining all actions, including a foreclosure sale, against a debtor or its property. [1] 1] In Bayview Loan Servicing LLC v.

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COVID-19: The Exception to the Worker Adjustment and Retraining Notification Act

ABI

Audrey Victor St. John's University School of Law American Bankruptcy Institute Law Review Staff The Worker Adjustment and Retraining Notification Act ("WARN Act") provides that “an employer shall not order a plant closing or mass layoff until the end of a 60-day period after the employer serves written notice of such order” to each impacted employee. [1]

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Solvent Debtors Must pay the Contractual Post-Petition Interest Rate on Unimpaired Claims

ABI

Rayla Aberman St. John's University School of Law American Bankruptcy Institute Law Review Staff In In re PG&E Corp. , the United States Court of Appeals for the Ninth Circuit held that solvent-debtors are required to pay unimpaired creditors their bargained for post-petition interest rate. [1] 1] In January 2019, PG&E Corp. filed for chapter 11 bankruptcy due to the potential liabilities they were facing following the California wildfires. [2]

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